« Top Headlines » Open DEMAT Account in 24 hrs  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80 «  `No exemption from Clause 49 compliance'... 'DTAA with India should not be re-written'... » Mauritius opposes tax treaty revision August, 30th 2006 Foreign institutional investors (FIIs) using the Mauritius registration route to invest in Indian stock markets can breathe easy. The tax haven has insisted that its controversial double taxation avoidance agreement with India should not be re-written, unless all similar tax treaties signed by India with other countries, exempting capital gains tax waiver, were also amended. Mauritius deputy prime minister and finance minister Rama Sithanen told reporters on Tuesday, We should not be singled out. Instead, we want a balanced approach. Acknowledging that a lot of business comes to the nation because of the treaty, he said they were open to any review of the Double Tax Avoidance Agreement (DTAA) provided there was a level playing field compared to other countries. Keeping in view of historical, cultural, political and diplomatic ties between the two countries, we need a global solution that will not penalise Mauritius, the deputy prime minister said. The ministers comments are significant as finance minister P Chidambaram has said recently that India was reviewing the Indo-Mauritius double taxation avoidance treaty to stop misuse of its provisions. He was reacting to a demand made by the left parties supporting the UPA government for a thorough review of the treaty. Mr Chidambaram had said some FIIs using the Mauritius route may have taken tax advantage. We believe there has been some kind of treaty-shopping and perhaps unfair advantage of DTAA, by some of these companies. Under this treaty, entities investing in Indian stock markets get an exemption from capital gains tax. Rama Sithanen claimed that to prevent misuse, companies have to now get an annual residency proof from the Mauritius government, instead of a one-time certificate.